COOKSTOWN construction firm McAleer & Rushe has secured a £130 million contract from London property developers Quintain to deliver more than 550 new homes on the 85 acre site at Wembley Park.
Quintain is leading on the transformation of Wembley Park, one of Europe’s biggest and more ambitious regeneration projects, and had already retained the Tyrone builders for the first phase of the South West Lands development, due to be completed in the autumn of next year.
That phase was worth £55 million to McAleer & Rushe, who've just learnt that they're to deliver the next stage of the scheme, which lies adjacent to Wembley Stadium and London Designer Outlet.
Of the 553 new homes, 114 will be affordable, split between affordable rent and shared ownership. The remaining 439 will be rental homes managed by Quintain’s wholly owned build to rent operator Tipi.
Residents of South West Lands will benefit from a centralised ‘hub’ building – located only nine minutes by train from London Marylebone, as well as an on-site gym, library, resident’s lounge and concierge service leading out to a podium garden.
Quintain is leading on the transformation of Wembley Park, one of Europe’s biggest and more ambitious regeneration projects. The South West Lands plot lies adjacent to Wembley Stadium and London Designer Outlet and provides a critical link from Wembley High Road for people visiting Wembley Park and the Stadium.
It will be McAleer & Rushe’s third contract at Wembley Park and takes the overall contract spend with the contractor by Quintain to £212m.
The builder, which celebrated its 50th anniversary last year, is also on site delivering the 312-room Premier Inn hotel which is due for completion ahead of schedule in Summer 2018.
Angus Dodd, chief executive of Quintain, said: “We are delighted to award this £130m contract to McAleer & Rushe, who are doing an excellent job on the first phase of South West Lands.
"The award of this contract, which will deliver 553 new homes, marks another important step in the delivery of Wembley Park as we continue its transformation into the UK’s most exciting mixed-use destination.”
McAleer & Rushe chief executive Eamonn Laverty added: “We are delighted to be in London to mark our largest deal to date.
"This is our third contract with Quintain since 2016 and the project cements our partnership with them as a trusted member of their Main Contractors framework.
"The signing reinforces our position as one of the leading design and build contractors in the high end residential and private rented sector and we look forward to further involvement in the wider Wembley Park masterplan.”
The contract signing comes less than two months after Quintain signed their largest ever construction contract for £211m with Sisk to deliver 743 new build to rent homes. Quintain is spending £1m a day on construction, making Wembley Park one of the UK’s largest construction sites.
It follows the announcement last year that Quintain and Network Homes will be delivering an additional 252 new affordable homes at Wembley Park.
